Kaingaroa forest benefits Harvard

Harvard Management, the manager of Harvard University's US$32 billion ($40 billion) endowment, made an 18.8 per cent annual return on its natural resource portfolio, which includes majority ownership of the cutting rights to the Kaingaroa forest.

Harvard University has put 10 per cent of its portfolio into natural resources, which it says are mostly timberland, and agricultural and other resource-bearing properties on five continents.

The return on the natural resources in the year ended June 30 contributed to an overall portfolio return of 21.4 per cent for the period.

The portfolio has been built up in the past decade by Andy Wiltshire, a Kiwi who started his career with the NZ Forest Service, developer of the Kaingaroa forest.

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